

| TELEFONICA SA | 02/06/2010 AGM | |
|---|---|---|
| 1 | To approve the Individual Annual Accounts, the Consolidated financial statements, and the Management Report as well as the Discharge of the Board | Oppose |
| 2 | To approve the appropriation of income and dividend | For |
| 3 | To approve share repurchase | Oppose |
| 4 | To issue debentures, notes, convertible bonds and other fixed-income securities without pre-emptive rights | Oppose |
| 5 | To re-elect Ernst & Young as the statutory auditors for one year | For |
| 6 | Delegation of powers for the completion of formalities | For |